Dec 23, 2016

It’s official: Surge pricing for Uber, Ola is legal now

India has finally come up with a new set of rules for the taxi-apps industry, which means Ola and Uber, at last, have something to refer to before starting anything new or sticking to what is old but still not well tested.
Ola and Uber who have gone off the Indian roads multiple times causing distress to regular customers should be relieved now.
The best part for their businesses is that surge pricing has been made official, within limits, that is.

According to reports, CEO of the National Institution for Transforming India recently said, “Uber is disrupting the world and when disruptions like these take place India must have the capability to modify and change regulations to keep with the innovation. For the latest ruling, a committee of the Ministry of Road, Transport, and Highways reviewed issues relating to taxi permits and recommended that the aggregators should be allowed surge pricing within a certain range to match supply and demand with maximum tariff may be allowed up to four times that of minimum tariff from 12 midnight to 5 am in morning,”

The allocations for bike sharing, urging states to consider allowing converting private bikes to taxis was also made.
Ola and Uber had both launched bike taxis in India last year but had to take them out due to government rulings. Uber has eventually brought them back in some cities with Hyderabad being the latest to be added to their kitty.

This move is being welcomed at the time when government organizations such as IRCTC have also introduced ‘dynamic’ or surge pricing to keep up with the demand and supply of popular trains.
Source - Business Insider

 

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